Heirs Energies, Renaissance Africa collaborate to drive Nigeria’s oil and gas devt
Heirs Energies Limited and Renaissance Africa Energy Company have expressed mutual commitment to strategic collaboration following a high-level courtesy visit by Osa Igiehon, CEO of Heirs Energies, to Renaissance's leadership team, led by the Managing Director, Tony Attah.
Upstream: Nigeria’s gas production declines by 3% in one year
By Prince Okafor Nigeria’s gas production witnessed another setback, as the sector recorded a marginal decline by three per cent to 3,004.06 Billion Cubic Feet (BCF) in one year. This development is coming as a negative momentum to the Federal Government’s determination in improving the utilisation of gas in the country. According to statistics obtained […]
Electricity: TCN completes Ajah transmission tower, increases capacity to 1,200mw
By Prince Okafor The Transmission Company of Nigeria, TCN, has completed the construction and installation of a new transmission tower in Ajah, Lagos. The power company also strung the old and a new 330 kilovolts Egbin-Ajah transmission lines. According to a statement made available to Vanguard by TCN’s General Manager, Ndidi Mbah, both lines have […]
FG approves $1.5bn for Port Harcourt Refinery rehabilitation
THE Federal Government has approved the sum of $1.5 billion for the rehabilitation of Port Harcourt Refinery, which is the largest refining company in the country.
Italy court acquits Eni, Shell in Nigeria corruption case
An Italian court on Wednesday cleared energy giants Eni and Shell of $1.1-billion (920-million-euro) corruption charges related to a major oil exploration deal in Nigeria. Judges in Milan acquitted Italy’s Eni, Anglo-Dutch firm Shell and 13 defendants, including Eni’s chief executive Claudio Descalzi and his predecessor Paolo Scaroni. “After almost three years of trial, the […]
Nigeria gets first composite cylinder plant
By Prince Okafor From an undesirable position of importing LPG (cooking gas) cylinders, Nigeria is on course to become the world’s largest manufacturer of composite cylinders with the groundbreaking of Rungas ALFA plant performed on Friday by the Minister of State for Petroleum Resources, Chief Timipre Sylva, at Alaro City, Free Trade Zone, Epe, Lagos […]
Petrol Price: DPR moves to clampdown on erring filling stations
By Prince Okafor The Department of Petroleum Resources (DPR) intensified its intensified surveillance of filling stations in Lagos State to ensure compliance with the approved pump price band for Premium Motor Spirit (PMS). The Zonal Operations Controller, DPR, Lagos, Mr Ayorinde Cardoso, led the surveillance team to some petrol stations located in Ikoyi, Victoria Island […]
Nigeria’s oil exploration dips by over 70%
By Udeme Akpan There are indications that oil exploration dropped in Nigeria by 70 per cent in February 2021, according to the Organisation of Petroleum Exporting Countries, OPEC. In its March 2021 report obtained by Energy Vanguard, the organization put the nation’s rig count, a major indicator of exploration, and production, at seven. This showed […]
Liquidity: Electricity sector generates N272.47bn in six months
***NERC blames MDAs, others for rising debts ***DISCOs collection efficiency Q3’20 By Obas Esiedesa Electricity market revenue grew by 10.55 per cent to N272.47 billion in the second half (July-December) 2020, compared to N246.46 billion generated in the corresponding period of 2019, according to the latest industry data obtained by Energy Vanguard. The growth followed […]
Petrol marketers revert to N175 per litre in South-East
Consumers of Premium Motor Spirit (PMS) in Awka, the Anambra capital and its environs heaved a sigh of relief following the quick reversal of price of product from between N200 and N212 to between N175 and N180 per litre. The News Agency of Nigeria (NAN) reports that customers woke up on Friday to see that […]
Oil Market: OPEC puts Nigeria’s oil output at 1.4 mbpd
***showing 17.6% drop against 1.7 mb/d 2020 output By Udeme Akpan The Organisation of Petroleum Exporting Countries, OPEC, has put Nigeria’s February 2021, oil output at 1.4 million barrels per day, mb/d, excluding Condensate. This, according to the March Oil Market Report, obtained by Vanguard, Thursday, March 11, 2021, showed a drop of 17.6 per […]
